Overview
- GraniteShares submitted SEC filings for 3x daily-leveraged ETFs in both long and short versions tied to XRP, SOL, ETH and BTC.
- The proposed XRP funds seek triple the token’s daily moves in either direction, using a daily reset that magnifies short-term swings and can diverge from long-term returns.
- The filings reference the SEC’s September 17 Generic Listing Standards, which allow exchanges to list qualifying commodity-based ETPs without individual 19b-4 approvals.
- Routine SEC reviews are on hold during the federal shutdown, creating timing uncertainty even as GraniteShares’ paperwork outlines a potential launch window about 75 days from October 7.
- Investor appetite is evidenced by existing 2x XRP ETFs from Teucrium and ProShares, which have gathered hundreds of millions in assets, while analysts caution these 3x products are designed for a narrow, high-risk, short-term trading audience.